Disclosure of dispatch of postal ballot notice
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Awaiting price reaction for this filing.
LKP Securities has dispatched a postal ballot notice seeking shareholder approval for issuing up to 47,62,000 fully paid-up equity shares of Rs. 2 each at Rs. 21 per share (including Rs. 19 premium), aggregating about Rs. 10 crore. The shares are proposed to be allotted on a preferential basis to Mahendra Doshi (on behalf of partnership firm M/s L K Panday), classified under the Promoter category. The issue price of Rs. 21 is higher than the floor price of Rs. 20.90 determined under SEBI ICDR regulations and an independent valuation report dated July 25, 2025. The stated purpose of the fund raise is investment or acquisition of equity shares of Bond Street Capital Private Limited, along with general corporate purposes. E-voting will run from July 26, 2025 to August 24, 2025, with results to be declared within two working days thereafter.
Existing public shareholders will see a dilution of their stake as ~47.62 lakh new shares are issued to a promoter-group entity, while the promoter holding in the company will increase. The ~Rs. 10 crore infusion strengthens the company's capital base to fund an acquisition/investment in Bond Street Capital, which could be a positive strategic move if the target adds value, though near-term sentiment may depend on the terms and synergies of that deal.